Many of you have watched the TV show, the Profit on CNBC. If you are small business loan advisor or thinking of becoming a small loan specialist, this is show that you must watch consistently. Since we provide capital to small businesses we need to understand the setbacks that businesses face in America. The Profit, clearly demonstrates all the financial setbacks that small businesses are facing. If you have noticed, Marcus Lemonis concentrates in three areas: People, Process, and Product.
What can we learn from Marcus Lemonis about training? Training is an element that interfaces with all three factors; people, processes and product.
If you are an ISO or a referral partner you are the people. As the people in this equation you need to train. If we have an ISO or referral partner that is not using our training system, marketing materials, or consistently training on their own, than we don’t have the right people. You, as the agent need to train to become part of this formula. Lendinero as a company, needs to provide you with support and systems that allow you train. Those training materials and systems are created by other people.
At Lendinero we strive every day to innovate to make our processes better. Our processes are provided in our training materials. If the processes are clear, there is no reason why the people should fail in making things work. Processes in our industry don’t only include processing a loan and funding a small business loan, they entail more. Processes include training, training materials, marketing materials, databases, commission payouts, detailed reports, and more. At Lendinero we have taken years to develop all of these systems. Every day we try to improve these systems which form part of a process. Processes also include setting the expectations clear.
Most agents and ISOs focus in product or commissions. You can have the highest commission payout offered to you but if the right people are not there and the processes are not clear, high commissions are irrelevant. Also, product involves training. As an agent offering small business loans you need to learn about the products and must be able to sell the product in the best interest of the client. It’s not always what you want or what the client wants. It’s what will resolve the problem for the client and what the client can afford.
All of these three components should be part of a training system. At Lendinero we cover these three areas in our training systems. Lemonis knows that the 3 Ps can help an entrepreneur reach failure or success. As an ISO or Agent, you are an entrepreneur. Training is important in order to understand the 3 Ps. This is the Lendinero difference. We believe that the highest commission payout is not the most important factor, the most important factors are the 3Ps.
So what can you do? Find out more information about Lendinero’s Training System. Write to us: firstname.lastname@example.org